The Egyptian public spending included in the draft budget for 2001 has been fixed at 120 billion Egyptian pounds ($30.93 billion), reported Xinhua news agency, citing Egypt’s Prime Minister Atef Obeid. This sum is an EP 8.3 billion increase compared with the EP 111.7 billion included in last year’s budget.

According to Prime Minister Obeid, this budget is expected to cut Egypt’s deficit down to 3.4 percent, while achieving a five to six percent growth rate. ¯ (Albawaba-MEBG